BDI Declines Amid Capesize Rate Drop

【BDI Continues to Fall】

The Baltic Dry Index (used to measure freight rates for ships carrying dry bulk commodities) fell on Wednesday, as the decline in Capesize rates overshadowed gains in Panamax and Supramax rates. The main index tracking Capesize, Panamax, and Supramax rates fell 32 points to 1,374. The Baltic Capesize Index dropped 102 points to 1,935.

The average daily earnings for Capesize vessels decreased by $847 to $16,050. Meanwhile, the Baltic Panamax Index rose 2 points to 1,362. Panamax vessels, which typically carry 60,000-70,000 mt of coal or grain, saw their average daily earnings increase by $19 to $12,257. Among smaller vessels, the Supramax Index rose 4 points to 961.